Is Daktronics, Inc.'s (NASDAQ:DAKT) Recent Stock Performance Tethered To Its Strong Fundamentals?
Is Daktronics, Inc.'s (NASDAQ:DAKT) Recent Stock Performance Tethered To Its Strong Fundamentals?
Daktronics' (NASDAQ:DAKT) stock is up by a considerable 34% over the past three months. Since the market usually pay for a company's long-term fundamentals, we decided to study the company's key performance indicators to see if they could be influencing the market. Specifically, we decided to study Daktronics' ROE in this article.
在過去的三個月裏，Daktronics（納斯達克：DAKT）的股價上漲了34%。由於市場通常會關注公司的長期基本面，我們決定研究該公司的關鍵績效指標，看看它們是否可能影響市場。具體而言，在本文中我們決定研究Daktronics的ROE。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股東要考慮的關鍵因素之一是淨資產收益率或roe，因爲它告訴他們公司如何有效地重新投資他們的資本。簡單點說，它衡量了公司與股東權益相關的盈利能力。
How Is ROE Calculated?
淨資產收益率怎麼計算？
The formula for ROE is:
roe的公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤（從持續經營中獲得）÷ 股東權益
So, based on the above formula, the ROE for Daktronics is:
因此，根據上述公式，Daktronics的ROE爲：
23% = US$54m ÷ US$236m (Based on the trailing twelve months to January 2024).
23% = 美國$5400萬 ÷ 美國$2.36億（根據截至2024年1月報告的過去十二個月）。
The 'return' is the income the business earned over the last year. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.23 in profit.
“回報率”是企業上一年的收入。換句話說，企業能夠賺取每1美元的股本中的0.23美元利潤。
What Is The Relationship Between ROE And Earnings Growth?
既然我們已經確定ROE是一種有效的利潤生成標準，用於評估公司未來的盈利能力，我們現在需要評估公司“保留”爲未來增長而重新投資的利潤多少，這使我們對公司的增長潛力有了一個了解。一般而言，在其他條件相等的情況下，ROE和利潤留存高的公司，增長率比沒有這些屬性的公司要高。
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.
我們已經確定ROE是衡量公司未來盈利能力的有效指標。基於公司選擇再投資或“留存”利潤的比例，我們可以評估公司未來生成利潤的能力。其他條件相同的情況下，具有更高淨資產收益率和更高利潤留存率的公司通常比沒有這些特點的公司增長率更高。
Daktronics' Earnings Growth And 23% ROE
Daktronics的盈利增長和23%的ROE
Firstly, we acknowledge that Daktronics has a significantly high ROE. Additionally, the company's ROE is higher compared to the industry average of 9.6% which is quite remarkable. So, the substantial 44% net income growth seen by Daktronics over the past five years isn't overly surprising.
首先，我們認識到Daktronics的ROE非常高。此外，公司的ROE高於行業平均水平9.6%，這相當卓越。因此，Daktronics在過去五年中顯着增長了44%的淨收入，這並不令人過度驚訝。
As a next step, we compared Daktronics' net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 15%.
作爲下一步，我們將Daktronics的淨收入增長與行業進行了比較，高興的是，我們發現該公司的增長高於平均行業增長率15%。
Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Daktronics is trading on a high P/E or a low P/E, relative to its industry.
盈利增長是估值股票時需要考慮的重要指標。投資者應該嘗試確認預期的盈利增長或下降（不論哪種情況），是否已經定價。這樣做將有助於他們確定股票的未來前景是有希望的還是不樂觀的。預期盈利增長的一個很好的指標是市盈率，它根據公司的盈利前景確定市場願意爲股票支付的價格。因此，您可能要檢查Daktronics的市盈率是高於行業還是低於行業。
Is Daktronics Making Efficient Use Of Its Profits?
Daktronics是否有效利用其利潤？
Daktronics doesn't pay any regular dividends to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.
Daktronics沒有向股東支付任何定期股息，這意味着該公司一直在將所有利潤投資於業務中。這很可能是導致上述高盈利增長的原因。
Summary
總的來說，我們對偉明環保的表現非常滿意。具體而言，我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然，這導致公司的收益大幅增長。但是，最新的行業分析師預測表明，該公司的收益預計將加速增長。
Overall, we are quite pleased with Daktronics' performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總的來說，我們對Daktronics的表現感到相當滿意。特別是，我們喜歡該公司大量投資業務，並以高回報率投資。毫不意外，這導致了驚人的盈利增長。儘管如此，最新的行業分析師預測顯示，該公司的盈利增長預計將放緩。要了解有關公司的最新分析師預測的更多信息，請查看此公司的分析師預測可視化。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
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譯文內容由第三人軟體翻譯。